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CBRE Arranges Sale of 280-Unit Multifamily for $114.5M

CBRE announced today that it has arranged the sale of Neponset Landing, a 280-unit high-rise apartment community located at 2 Hancock Street in Quincy, Massachusetts. 

CBRE Capital Markets’ multi-housing experts Simon Butler, Biria St. John and John McLaughlin exclusively represented the seller, Neponset Landing LLC, an affiliate of The Green Cities Company from Portland, OR and procured the buyer, a joint venture between Synergy Investments from Boston, MA, and a foreign investor.  

Completed in 2007, Neponset Landing is comprised of a single, twelve-story apartment building, offering a mix of one and two-bedroom homes, many of which have outstanding water and city views. The community offers an on-site leasing center with a resident lounge and fitness center, along with garage parking. The Green Cities Company achieved the LEED Gold certification for Neponset Landing in 2018. 

Neponset Landing is located within walking distance of the North Quincy Center T station, offering easy access to both downtown Boston and Cambridge. The asset is also in close proximity to I-93, connecting residents to downtown Boston and Route 128 to the south. 

“We are pleased to have represented Green Cities Company’s sale of Neponset Landing. This marked the successful conclusion of the Green Cities Company’s investment strategy,” stated Mr. Butler. “Neponset Landing offers Synergy Investments the ability to generate strong long-term returns given its outstanding location and the ability to add value through a renovation program.”

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